Profit Business Ethics

Business planning is a strategic part of formation; contractual agreements are another important factor of communication so that each member has the same understanding of the commitment that he or she has made. Each individual has to be dedicated and responsible to the outcome of the entity no matter how big or small the business; responsibility, and knowledge are the foundation to start a business. The fall of the housing market is an example of how business ethics can change the environment. Mortgage lenders were approving individuals and families for loans that he or she could not afford. The lender would make a commission off of the loan and most banks were aware that over half of the loans begin approved were bad loans. Ethically this is not right, the lenders were deceiving the borrowers leading them to believe that the home was affordable and within his or her price range.

In a perfect world, businesses and their employees would always do the right thing. Unfortunately,

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

But, as a matter of demonstrable moral fact, business owners do not have a duty to sacrifice their interests for the sake of their employees, and they should not be forced to do so. The owner of a business, having built

Everyday at noon the mechanics sat down for lunch and I joined them. Around that lunch table they imparted to me several stories over the course of several weeks about some of the things they had experienced and ways in which they had actually taken advantage of paying customers. One mechanic told me how he watched his boss sell several very expensive engine parts to a little old lady. He told me that he had to leave the area because he started laughing so hard because of all the unnecessary parts his boss was selling the woman. However he did nothing to step in and stop the woman from being taken advantage of, or to stop his boss or even recommend something less expensive. He told this story as if he was proud at the way his boss had swindled the woman. There was not even a though of remorse, or a consideration to weather this type of business was ethical or not, it was simply the way business was, and is, done.

Ethical standards in business can be divided up into three levels. These levels are law, policies, and individuals. In the United States, we are bound by laws. With these laws, we distinguish right and wrong, and what is accepted by the majority of citizens in terms of behavior. Businesses have to abide to these laws at all time. There are laws on wages and hours to protect employees, but there are laws on environmental responsibility too. For a business to be considered ethical, at first, they should always follow the law. The law however, does not always guarantee ethical conduct as there is a thin line between legal and ethical. A business might act legally but unethical at the same time. In this case, the business must see to that themselves if this is ethical or not.

The movie “Glengarry Glen Ross” presented a series of ethical dilemmas that surround a group of salesmen working for a real estate company. The value of business ethics was clearly undermined and ignored in the movie as the salesmen find alternatives to keep their jobs. The movie is very effective in illustrating how unethical business practices can easily exist in the business world. Most of the time, unethical business practices remain strong in the business world because of the culture that exists within companies. In this film, the sudden demands from management forced employees to become irrational and commit unethical business practices. In fear of losing their jobs, employees were pressured to increase sales despite possible ethical

According to the video, “Ethical Scenarios, Improving the Bottom Line of the Business,” many companies are following the law in an unethical way. They are not necessarily doing anything illegal, but they are doing things, like not paying taxes, when they should not be. The Wholesome Hamburger Company owns one hundred fast food restaurants in California. However, in California there is a big drought and people are being told to ration their water. Nonetheless, the company will be able to buy water inexpensively and legally. Yet, they know that it takes 1,800 gallons of water to produce one pound of beef, twelve gallons of water to produce a head of lettuce, two gallons for one walnut, and
468 gallons of water to produce a pound of chicken. Legally, they are able to continue producing and selling their products without issues, but ethically, they are using more water than they should during a drought.

In this essay I will be answering the question; Are businesses that act unethically destined for failure? It’s no secret that many, if not the majority, of the world’s most famous companies have been accused of acting in an unethical manner; but the unasked question is why do so many get away with acting unethically. The definition of the ethics is “the study of practices and policies in business, to determine which are ethically defensible and which are not” (Jennifer Jackson 1996 page one)

Some may consider the answer to this dilemma is dependent on one’s personal perspective: either the company relinquishes all responsibility upon completion of the sales transaction with the buyer or else the company will always maintain some level of ethical obligation since it introduced the device to society. A justified answer is predicated on the operational definition of this philosophical concept. Ethical responsibility is the norms and expectations of stakeholders and shareholders concerning a moral sense of honesty and fairness beyond legal requirements and time constraints (Zuba-Ciszewska, 2016). Ethics and morals are profoundly linked. Based on Manuel Velasquez’s (chair of the Santa Clara University Management Department) assessment, moral responsibility is contingent on obligation, duty, or culpability and exists when an agent or party knowingly causes harm that could have been prevented (Federwisch, 2015). Ziegler (2016) stated morality is subject to the moral norms of a prescribed situation that is based on value judgments. Although these delineations are vague, moral and ethical dilemmas can be circumstantial. For instance, consider the act of stealing food. It is a sin and a crime, but when considered in the context of a father stealing food for his starving children because he cannot work abates adverse judgment.

Business Ethics are the set rules that govern a how businesses operate. In the movie where the two extremely wealthy owners of a financial firm, who make a bet of one dollar over whether anyone can be wealthy like them, given the right environment regardless of their social status. Based on the storyline that comes out of this is that the “haves” are willing to work together with the “have-nots”. It depicts that the unfortunate situation of the poor, ridicule the opulent lifestyle of the rich in the film. The movie tries to make a point that everyone and everything has its price. The question to ask would be “What is the price?” The movie is filled with business ethical issues like when the Duke Brothers attempted to commit federal crime of

* Maximizing the company’s profit by “unethically” shipping the products and ignoring the report on traces of lead found, while explicitly providing a disclaimer to potential clients of the possible health hazards that may

If I decide to take the Mr. Bultmann’s offer I would be taking my attorney advice to stock up on my inventory, which I will use to help me get through the Chapter Eleven. Since I been doing business with Mr. Bultmann for years I wouldn’t disappoint him and he trusts that I would catch up with payments. If I don’t accept his offer I would not be putting my business is three million dollars more in debt. I could avoid the possibly of failing to sell the new line of watches, which would hurt my relationship with Mr. Bultmann because I am known for being a constitutionally honest person. I would accept offer his for the three millions dollar commitment. At this point I will do anything to get through Chapter Eleven and stocking up my asset is the best decision for my business. The Rolex watches are an unsecured loan if they don’t sell I can just must give the watches back. I can’t lose I am already filing for Chapter Eleven. My aunt was in a similar situation where her restaurant had a rough winter season and out a loan from the bank in order to keep her business running. With the loan she was able to put by her business on its feet and now own three restaurants and paid off her

Good business ethics is just one of many ingredients necessary for a successful business. You cannot have a successful business if you take advantage of stakeholders that support and have a vested interest in your business. History has shown time and again that, when the opportunity to grab quick profits presents itself, ethics can all too readily take a back seat to the entrepreneurial spirit. Incidents or abusive behavior, harassment, accounting fraud, conflicts of interest, defective products, and bribery and employee theft can happen at any business. Corporations have a social responsibility, an

There wouldn’t be such an ethical concern if there were a portion of profits contributed towards good causes or charity. Consumers (or possible consumers) wouldn’t feel as dreadful; knowing that the high price they’re spending is going towards a good cause, in fact, this may improve profit overall. Such a strategy would reduce ethical concerns with the possibility of increasing profit margins.